Guggenheim Capital LLC Purchases Shares of 12,109 Neogen Co. (NASDAQ:NEOG)

Guggenheim Capital LLC purchased a new stake in shares of Neogen Co. (NASDAQ:NEOG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,109 shares of the company’s stock, valued at approximately $147,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Harbour Investments Inc. purchased a new position in shares of Neogen during the 4th quarter worth approximately $27,000. Blue Trust Inc. grew its holdings in shares of Neogen by 196.7% during the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after acquiring an additional 2,233 shares during the period. Covestor Ltd grew its holdings in shares of Neogen by 41.4% during the 4th quarter. Covestor Ltd now owns 4,103 shares of the company’s stock worth $50,000 after acquiring an additional 1,202 shares during the period. KBC Group NV grew its holdings in shares of Neogen by 39.1% during the 4th quarter. KBC Group NV now owns 8,464 shares of the company’s stock worth $103,000 after acquiring an additional 2,379 shares during the period. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Neogen by 4,955.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 10,415 shares of the company’s stock worth $126,000 after acquiring an additional 10,209 shares during the period. Institutional investors own 96.73% of the company’s stock.

Analyst Ratings Changes

NEOG has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Neogen from $6.40 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Guggenheim cut their price target on Neogen from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th.

Insiders Place Their Bets

In other news, Director James C. Borel acquired 35,000 shares of Neogen stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average price of $4.89 per share, for a total transaction of $171,150.00. Following the completion of the transaction, the director now owns 60,474 shares in the company, valued at $295,717.86. The trade was a 137.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Amy M. Rocklin bought 12,500 shares of the company’s stock in a transaction on Wednesday, April 23rd. The stock was purchased at an average cost of $4.99 per share, for a total transaction of $62,375.00. Following the completion of the transaction, the insider now directly owns 36,287 shares of the company’s stock, valued at approximately $181,072.13. The trade was a 52.55 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 67,500 shares of company stock valued at $331,525. Corporate insiders own 1.13% of the company’s stock.

Neogen Stock Down 2.1 %

Neogen stock opened at $5.03 on Wednesday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -2.30 and a beta of 1.57. The stock has a fifty day simple moving average of $7.80 and a two-hundred day simple moving average of $11.10. Neogen Co. has a 12 month low of $3.87 and a 12 month high of $18.58. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33.

Neogen (NASDAQ:NEOG) last posted its earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The business had revenue of $221.00 million during the quarter, compared to the consensus estimate of $225.27 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 EPS. Equities analysts predict that Neogen Co. will post 0.38 EPS for the current fiscal year.

Neogen Company Profile

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.